(solved)Question 5: Trademarks (16 marks) In early January 2017, Crawford Corporation applied for and received approval for a trade name, incurring legal…. . . . .

Question 5: Trademarks (16 marks)In early January 2017, Crawford Corporation applied for and received approvalfor a trade name, incurring legal costs of $50,400. In January 2018, Crawfordincurred $22,050 of legal fees in a successful defence of its trade name.Required: (round all answers to 0 decimal place)a) Calculate amortization for 2017; carrying amount at December 31, 2017;amortization for 2018; and carrying amount at December 31, 2018, if thecompany amortizes the trade name over its 16-year legal lifeb) Calculate amortization for 2017; carrying amount at December 31, 2017;amortization for 2018; and carrying amount at December 31, 2018, if thecompany amortizes the trade name over a useful life of 5 years

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Answer to Question 5: Trademarks (16 marks) In early January 2017, Crawford Corporation applied for and received approval for a trade name, incurring legal… . . .

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